Cut its Nook sales forecast for this year and shocked investors by saying it was considering a sale of the electronic reader and tablet business, sending its shares down more than 20 percent.
That was stockstory of the day and it´s chart indeed does not suggest to be bottom fisher.
I think it was oversold stocks bounce relief day where Bank of America and Nokia were some of the biggest gainers.
As planned I am seller for for Nokia if third big time rally will be seen yet - either this week or next one, I would exit allready today my long with this second day +9% rally but my shares are from Europe and our markets were allready closed, so that´s the plan for tomorrow in Europe, potentially but I am not hurry with it actually, can keep it for next week if tomorrow will be flat.
I also took profits from rest of the MittalSteel and closed US Molycorp and Braskem because volume never didn´t come there to be interested - 2 second one´s went pretty much ZeroFlat and MittalSteel gains left pretty much what it did gave during the first day of the year.
CL futures 1H and 4H chart does not have very major bearish divergence but I think it might do one small ABC correction in here where one impulse looks for my eyes to be pretty much done but divergences itself are as flat as any dailychart on there giving no much edge for it and particulary it can be still under conflict with next higher degrees which is impulse pointing higher yet over the spring, meaning to trade something like that would become extreme nasty because I don´t think it is fully done.
If that´s the case, then this daily chart 61.8% retracement overllapped slightly with this fifth wave so far. If it takes even small correction I don´t think any commodity related stock will be bullish and I might take profits from Alcoa also for a moment which leaves MSFT and MRVL to be my largest positions left which I do not have plans to sell anymore for some time. Got to be long with something.
It´s silly market we have, but still threats somewhat Ok.
Euro ended for new low but looks alike market start to be bored for it and no-one cares anymore.
For Asian market I am a bit long with Euro actually with 1.2780, I think we are a bit overdone in here and for some reason I don´t think tomorrow will be very bearish for it in Europe but it is just more bounce hunting than any kind of proxy investment.